^Well the start of the crisis was in the credit area, and in the US it was specifically a real estate crisis. The job losses are not a good thing to say the very least, but they are a symptom and not a cause at this point.
In Canada in particular there are programs for people that have lost their jobs and cannot find employment elsewhere; I would expect reliance on these systems to increase dramatically of course, but that also helps to stabilize the system and help people make ends meet.
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